Mamdani's Own Jersey Drop Creates FIFA-Like Resale Market

The markup mirrors exactly what Mamdani warned about. The same uncapped resale market he criticized now exists for a city-issued product. Wharton economist Judd Kessler calls this the hidden market: a Springsteen ticket priced at $60 gets resold at $4,000, and the difference goes to speculators who add nothing to production.

FIFA at least collects a 30% cut on every resale through its official exchange. The CityStore gets nothing when a jersey flips on eBay. Those who camped out and resold pocketed the margin.

The New York and New Jersey attorneys general are investigating FIFA for allegedly inflating ticket prices by design. The city's own jersey drop creates a parallel situation, complete with constrained supply, physical queuing, and a secondary market that extracts the difference.

Mamdani's office did not respond to Fortune's request for comment. In a statement Friday morning, the mayor said “there will be another drop” for the jerseys.

That did not stop New Yorkers from complaining on social media. Some noted they had seen better logistics from a Supreme drop, a brand famous for the crowds that line up for the latest fashion item.

The underlying problem is an economic one. A below-market price on a scarce good doesn't eliminate scarcity. It relocates the cost into a 1 a.m. arrival time, a 92-degree wait, and a resale listing before the line even died down.